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Transocean announces 11-well contract for GSF Development Driller I


Transocean has announced that the ultra-deepwater semisubmersible GSF Development Driller I was awarded an 11-well contract (approximately 955 days) commencing offshore Australia in the first half of 2019 with Chevron Australia. The estimated firm contract backlog, excluding integrated services, is approximately $158 million. Additionally, the contract includes four one-well options.

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OPEC producers key to world supply through to 2040


Wood Mackenzie sees OPEC maintaining its role as a key oil supplier through to 2040, although output from non-OPEC producers will help to ensure adequate supply in the years to 2030. In its Macro Oils Long-Term Outlook H1 2018, Wood Mackenzie said it expects the US Lower 48 to enjoy continued growth through the medium term, with its crude and condensate production reaching a plateau of more than 11 million bbl/day in the mid to late-2020s. Once the US plateaus, total non-OPEC liquids production will lose its growth momentum and begin to decline post-2030. With demand continuing to grow through to its peak in the mid-2030s, the industry must find increasingly expensive oil to offset declines from a maturing asset base. To ...

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